ED Seizes ₹1,906 Crore Assets Linked to Gameskraft in Online Gaming Money Laundering Probe
The Enforcement Directorate (ED) has seized assets worth ₹1,906 crore belonging to the online gaming company Gameskraft, alleging that the company fostered an environment that made players addicted to gaming. This action, taken under the Prevention of Money Laundering Act (PMLA), covers bank deposits, fixed deposits (FDs), and immovable properties; the company is also accused of using bots.
Assets worth ₹1,906 crore have been seized by the ED from the online gaming website called Gameskraft. The ED has said that the portal contributed in creating an environment that instilled gaming addiction among people, prompting people to place bets again and again.
The seized assets include bank deposits, fixed deposits, mutual funds, convertible notes, stocks, a farmhouse, and various houses and other commercial property. These assets are held in the name of the shareholders of Gameskraft Technologies Private Limited, their families, private family trusts, and associate companies.
The ED said that this action was conducted on July 22 under PMLA, based on the cases relating to RummyCulture, RummyPrime, Playship, and RummyTime apps.